From Business Insider, a nice quote from the president of the Federal Reserve Bank of Minneapolis, Neel Kashkari from last year:
..."If you're not raising wages, then it just sounds like whining," he told a group of business people at a Rotary Club meeting in Sioux Falls, S.D., according to the Washington Examiner.
..."Are any of you planning to raise wages in the next year or two? Or are you just complaining about you can't find workers?" Kashkari asked the group. "If you look at North Dakota in the oil boom — if you raise wages, people respond and you can find workers."
Thumbs up, Mr. Kashkari.
There are plenty of skilled workers available that would be happy to work for the generous wages offered by the captains of American business. Unfortunately, they currently live in the People's Republic of China, the Socialist Republic of Vietnam, and the Democratic People's Republic of Korea.
ReplyDeletePerhaps the US government could fund the relocation of those people and provide them with housing subsidies.
Ive often thought that a way to be a millionaire was to figure out how to bring in cheap-labor plumbers from China.
DeleteIn this country, capitalism is king. Your lifestyle largely depends if you are competing with cheap labor, or managing it.